financial and managerial accounting inventories

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1、c06Inventories.inddPage27019/09/1111:46AMuser-F391/Users/user-F391/DesktopChapter6InventoriesFeatureStory“WhereIsThateffectivemanagementofitsinventory.ImaginewhatitcostsCaterpillartoSpareBulldozerhavetoomanybulldozerssittingBlade?”aroundininventoryasituatio

2、nthecompanydefinitelywantstoavoid.Letstalkinventorybig,bulldozer-sizeConversely,Caterpillarmustmakeinventory.CaterpillarInc.istheworldssureithasenoughinventorytomeetlargestmanufacturerofconstructiondemand.andminingequipment,dieselandnaturalgasengines,andindu

3、strialgasAtonetimeduringa7-yearperiod,turbines.ItsellsitsproductsinoverCaterpillarssalesincreasedby100%,200countries,makingitoneofthewhileitsinventoryincreasedbyonlymostsuccessfulU.S.exporters.More50%.Toachievethisdramaticthan70%ofitsproductiveassetsareredu

4、ctionintheamountofresourceslocateddomestically,andnearly50%tiedupininventory,whilecontinuingofitssalesareforeign.tomeetcustomersneeds,Caterpillarusedatwo-prongedapproach.First,Duringthe1980s,Caterpillarsitcompletedafactorymodernizationprofitabilitysuffered,b

5、uttodayitisprogram,whichdramaticallyincreasedverysuccessful.Abigpartofthisitsproductionefficiency.Theprogramturnaroundcanbeattributedto✔TheNavigatorLearningObjectivesScanLearningObjectivesAfterstudyingthischapter,youshouldbeableto:ReadFeatureStory1Describeth

6、estepsindetermininginventoryquantities.ReadPreview2ExplaintheaccountingforinventoriesandapplytheReadtextandanswerDOIT!p.275inventorycostflowmethods.p.281p.287p.2903ExplainthefinancialeffectsoftheinventorycostflowWorkComprehensiveDOIT!1p.290assumptions.2p.2954E

7、xplainthelower-of-cost-or-marketbasisofaccountingReviewSummaryofLearningObjectivesforinventories.5IndicatetheeffectsofinventoryerrorsonthefinancialAnswerSelf-TestQuestionsstatements.CompleteAssignments6Computeandinterprettheinventoryturnoverratio.GotoWileyPL

8、USforpracticeandtutorials✔TheNavigatorReadALookatIFRSp.321270c06Inventories.inddPage27119/09/1112:09PMuser-F391/Users/user-F391/Desktopreducedby60%theamountofinventorythecompanybetter.Butindustryanalys